The history of Persatuan Insurans Am Malaysia (PIAM), originated from the establishment of various insurance and tariff associations set up in 1885 that played a role as a collective voice of the insurance industry in Malaya and Singapore, shortly after the independence of Malaya in 1957. In June 1961, the Insurance Association of Malaya was formed to maintain tariff discipline, respond to new insurance legislations and promote sound insurance practices. For the first time, an Association was established in Kuala Lumpur to safeguard the country’s general insurance interest.
Subsequently, PIAM was incorporated in May 1979 as a statutory trade association recognised by the Government of Malaysia for all registered insurers who transact general insurance business. Currently, PIAM has 25 member companies comprising direct general insurance and reinsurance companies operating in Malaysia.
- Articulate One Unified Voice for and on behalf of the industry
- Create Favourable Business Environment for member companies
- Promote Image of the industry and its Role in the Economy
- Educate Consumers on General Insurance Products
- Foster Public confidence by protecting the interests of Consumers
- Establish a Sound and Efficient Insurance Infrastructure with Best Practices
- Raise Professionalism and ensure Standards in Distribution
- Harmonize Approaches and Solutions to Industry Issues
- Build a pipeline of talent and profile general insurance as a career of choice
- Facilitate Information Sharing within boundaries of Competition Act
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A. The objects for which the Association is established are to further the interests of the general insurance industry in Malaysia by any or all of the following means:
- To promote growth and sustainability of the general insurance industry in Malaysia in co-operation and consultation with the Bank Negara Malaysia.
- To represent the interests of members by all means and methods consistent with the laws and Constitution of Malaysia.
- To render to members where possible such advice or assistance as may be deemed necessary and expedient.
- To take note of events, statements and expressions of opinion affecting members, to advise them thereon and to represent their interests by expression of views thereon their behalf as may be deemed necessary and expedient.
- To work as far as possible in co-operation with other similar associations.
- To circulate information likely to be of interest to members and to collect, collate and publish statistics and any other relevant information relating to general insurance.
- To work in conjunction with any legal body or any chamber of committee or commission appointed or to be appointed for the consideration, framing, amendment or alteration of any law relating to insurance.
- To organise and manage arrangements and matters of common interest, concern or benefit to members or any group of members and to collect and manage funds for the same.
- To undertake, prosecute or defend and at the discretion of the Board of Directors to assist any member of the Association to undertake, prosecute and defend any proceedings, civil or criminal in any Court but not to pay any fine or penalty imposed by such Court against such Member, and to make or at the discretion of the Board of Directors assist any such member to make any representation to any Government or Government representative, public or private body, association, corporation, company, firm or individual.
- To provide and maintain premises including the purchasing and holding of property for the purpose of the Association and for the use by its members.
- To co-operate with the relevant governmental and/or statutory authority in the pursuit of the objectives of the Association and to accept any appointment or nomination by any relevant governmental and/or statutory authority for the carrying out and performance of such duties, powers and functions as may be given, assigned or entrusted in relation to matters concerning the general insurance/reinsurance industry.
- To incorporate, register, establish and/or promote any company whether limited by shares, guarantee or otherwise in order to benefit its members or otherwise advance/promote the interests of its members.
B. The Association shall also do all such acts and conduct all such matters as deemed desirable in the interests of the Association generally and as are consistent with the objects and Constitution of the Association.
Chairman’s & Convenor’s
Malaysia Gross Domestic Product (GDP)
Total Gross Direct Premiums
RM 17.24 billion
Net Claims Incurred Ratio (NCIR)
RM 1.5 billion